← ADOBE INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $1.2b | $1.7b | $2.6b | $3.0b | $5.3b | $4.8b | $4.8b | $5.4b | $5.6b | $7.1b | |
| Amortization of Intangible Assets | $152.4m | $153.6m | $182.6m | $402.3m | $367.0m | $354.0m | $405.0m | $375.0m | $336.0m | $310.0m | |
| Depreciation, Depletion and Amortization | $331.5m | $326.0m | $346.5m | $736.7m | $757.0m | $788.0m | $856.0m | $872.0m | $857.0m | $818.0m | |
| Depreciation, amortization and accretion | $331.5m | $326.0m | $346.5m | $736.7m | $757.0m | $788.0m | $856.0m | $872.0m | $857.0m | $818.0m | |
| Other Depreciation and Amortization | $157.6m | $156.9m | $157.1m | $173.1m | $192.0m | $207.0m | $189.0m | $235.0m | $239.0m | $236.0m | |
| Deferred Income Tax Expense (Benefit) | $21.9m | $50.3m | ($467.1m) | $4.7m | ($1.5b) | $192.0m | $326.0m | ($422.0m) | ($468.0m) | ($514.0m) | |
| Deferred income taxes | $24.2m | $51.6m | $468.9m | ($2.7m) | ($1.5b) | $183.0m | $328.0m | ($426.0m) | ($468.0m) | ($512.0m) | |
| Goodwill, Impairment Loss | $0 | $0 | — | — | — | — | — | — | — | — | |
| Lease-related asset impairments | — | — | — | — | — | — | $0 | $0 | $78.0m | $0 | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | — | — | $78.0m | $0 | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | $719.0m | $518.0m | $589.0m | $677.0m | $475.0m | |
| Share-based Payment Arrangement, Expense | — | — | — | — | $909.0m | $1.1b | $1.4b | $1.7b | $1.8b | $1.9b | |
| Share-based Payment Arrangement, Noncash Expense | $349.9m | $451.5m | $609.6m | $787.7m | $909.0m | $1.1b | $1.4b | $1.7b | $1.8b | $1.9b | |
| Income Tax Expense (Benefit) | $266.4m | $443.7m | $203.1m | $253.3m | ($1.1b) | $883.0m | $1.3b | $1.4b | $1.4b | $1.6b | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $169.0m | $263.0m | |
| Other Nonoperating Income (Expense) | $29k | $83k | — | — | — | — | — | — | — | $248.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Noncash investing and financing activities: | |||||||||||
| Accrued expenses and other liabilities | $65.0m | $154.1m | $43.8m | $171.7m | $86.0m | $162.0m | $7.0m | $146.0m | $196.0m | $180.0m | |
| Acquisitions, net of cash acquired | ($48.4m) | ($459.6m) | ($6.3b) | ($100.7m) | $0 | ($2.7b) | ($126.0m) | $0 | $0 | ($17.0m) | |
| Deferred revenue | $524.8m | $475.4m | $444.7m | $497.0m | $258.0m | $1.1b | $536.0m | $536.0m | $309.0m | $771.0m | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($35.7m) | ($30.7m) | ($42.6m) | ($26.3m) | ($2.0m) | ($17.0m) | ($21.0m) | ($17.0m) | ($29.0m) | ($15.0m) | |
| Gain (Loss) on Investments | ($1.6m) | $7.6m | $3.2m | $51.6m | $13.0m | $16.0m | ($19.0m) | $16.0m | $48.0m | $43.0m | |
| Gain (Loss) on Sale of Properties | $0 | $0 | — | — | — | — | — | — | — | — | |
| General and Administrative Expense | $577.7m | $624.7m | $744.9m | $880.6m | $968.0m | $1.1b | $1.2b | $1.4b | $1.5b | $1.6b | |
| Goodwill | $5.4b | $5.8b | $10.6b | $10.7b | $10.7b | $12.7b | $12.8b | $12.8b | $12.8b | $12.9b | |
| Income taxes payable | ($32.0m) | ($34.5m) | $479.2m | $4.2m | ($72.0m) | $2.0m | $19.0m | ($11.0m) | $68.0m | ($45.0m) | |
| Increase (Decrease) in Accounts Payable | ($6.3m) | ($45.2m) | $54.9m | $23.1m | $96.0m | ($20.0m) | $66.0m | ($49.0m) | $44.0m | $64.0m | |
| Investment Income, Interest | $47.3m | $66.1m | $92.5m | $68.3m | $43.0m | $17.0m | $61.0m | $269.0m | $341.0m | $264.0m | |
| Nonoperating Income (Expense) | ($58.5m) | ($30.5m) | ($46.5m) | ($63.4m) | ($61.0m) | ($97.0m) | ($90.0m) | $149.0m | $190.0m | $28.0m | |
| Operating Expenses | $3.5b | $4.1b | $5.0b | $6.2b | $6.9b | $8.1b | $9.3b | $10.4b | $12.4b | $12.5b | |
| Other non-cash items | $2.0m | $4.6m | $7.2m | $13.8m | $40.0m | $7.0m | $10.0m | $3.0m | $10.0m | $48.0m | |
| Prepaid expenses and other assets | ($71.0m) | $28.0m | ($77.2m) | ($531.1m) | ($288.0m) | ($475.0m) | ($94.0m) | ($818.0m) | ($616.0m) | ($90.0m) | |
| Proceeds from re-issuance of treasury stock | $145.7m | $158.4m | $191.0m | $232.9m | $270.0m | $291.0m | $278.0m | $314.0m | $361.0m | $348.0m | |
| Purchases of long-term investments, intangibles and other assets | ($58.4m) | ($29.9m) | ($18.5m) | ($48.7m) | ($15.0m) | ($42.0m) | ($46.0m) | ($53.0m) | ($108.0m) | ($134.0m) | |
| Purchases of property and equipment, accrued but unpaid | $203.8m | $178.1m | $266.6m | $394.5m | $419.0m | $348.0m | $442.0m | $360.0m | $183.0m | $179.0m | |
| Stock-based compensation | $349.9m | $451.5m | $609.6m | $787.7m | $909.0m | $1.1b | $1.4b | $1.7b | $1.8b | $1.9b | |
| Trade payables | ($6.3m) | ($45.2m) | ($54.9m) | ($23.1m) | $96.0m | ($20.0m) | $66.0m | ($49.0m) | $44.0m | $64.0m | |
| Trade receivables, net | ($160.4m) | ($187.2m) | ($2.0m) | ($187.8m) | $106.0m | ($430.0m) | ($198.0m) | ($159.0m) | $143.0m | ($275.0m) | |
| Unrealized Gain (Loss) on Investments | ($3.1m) | $5.5m | ($793k) | $47.6m | $11.0m | $4.0m | ($29.0m) | $10.0m | $35.0m | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | $16.4m | $32.0m | $49.0m | $44.3m | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $2.2b | $2.9b | $4.0b | $4.4b | $5.7b | $7.2b | $7.8b | $7.3b | $8.1b | $10.0b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $203.8m | $178.1m | $266.6m | $394.5m | $419.0m | $348.0m | $442.0m | $360.0m | $183.0m | $179.0m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $48.4m | $459.6m | $6.3b | $100.7m | $0 | $2.7b | $126.0m | $0 | $0 | $17.0m | |
| Purchases of short-term investments | ($2.3b) | ($1.9b) | ($566.1m) | ($699.9m) | ($1.1b) | ($1.5b) | ($909.0m) | $0 | ($59.0m) | ($2.0b) | |
| Maturities of short-term investments | $769.2m | $759.7m | $765.9m | $699.5m | $915.0m | $877.0m | $683.0m | $965.0m | $486.0m | $1.2b | |
| Proceeds from sales of short-term investments | $860.8m | $1.4b | $1.7b | $86.1m | $167.0m | $191.0m | $270.0m | $223.0m | $11.0m | $6.0m | |
| Other investing activities, net | — | — | — | — | — | — | — | $1.0m | $2.0m | $3.0m | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | — | — | — | — | ($3.0m) | |
| Net cash provided by (used for) investing activities | ($960.0m) | ($442.9m) | ($4.7b) | ($455.6m) | ($414.0m) | ($3.5b) | ($570.0m) | $776.0m | $149.0m | ($1.2b) | |
| Net Cash Provided by (Used in) Investing Activities | ($960.0m) | ($442.9m) | ($4.7b) | ($455.6m) | ($414.0m) | ($3.5b) | ($570.0m) | $776.0m | $149.0m | ($1.2b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $0 | — | — | — | — | — | — | — | — | $2.0b | |
| Proceeds from issuance of debt | $0 | $0 | $2.2b | $0 | $3.1b | $0 | $0 | $0 | $2.0b | $2.0b | |
| Repayment of debt | — | — | $0 | $0 | ($3.1b) | $0 | $0 | ($500.0m) | $0 | ($1.5b) | |
| Repayments of Long-term Debt | — | — | — | — | $3.1b | $0 | $0 | $500.0m | $0 | $1.5b | |
| Payments for Repurchase of Common Stock | $1.1b | $1.1b | $2.0b | $2.8b | $3.0b | $4.0b | $6.5b | $4.4b | $9.5b | $11.3b | |
| Repurchases of common stock | ($1.1b) | ($1.1b) | ($2.0b) | ($2.8b) | ($3.0b) | ($4.0b) | ($6.5b) | ($4.4b) | ($9.5b) | ($11.3b) | |
| Other financing activities, net | — | — | ($1.7m) | $11.0m | ($21.0m) | $77.0m | ($35.0m) | ($7.0m) | $95.0m | ($149.0m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | $11.0m | ($21.0m) | $77.0m | ($35.0m) | ($7.0m) | $95.0m | ($149.0m) | |
| Net cash used for financing activities | ($1.1b) | ($1.2b) | ($5.6m) | ($2.9b) | ($3.5b) | ($4.3b) | ($6.8b) | ($5.2b) | ($7.7b) | ($11.1b) | |
| Net Cash Provided by (Used in) Financing Activities | ($1.1b) | ($1.2b) | ($5.6m) | ($2.9b) | ($3.5b) | ($4.3b) | ($6.8b) | ($5.2b) | ($7.7b) | ($11.1b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | ($51.0m) | $9.0m | ($9.0m) | $34.0m | |
| Effect of foreign currency exchange rates on cash and cash equivalents | ($14.2m) | $8.5m | ($1.7m) | ($12.7m) | $3.0m | ($26.0m) | ($51.0m) | $9.0m | ($9.0m) | $34.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $1.8b | ($634.0m) | $392.0m | $2.9b | $472.0m | ($2.2b) | |
| Cash and cash equivalents at beginning of year | $876.6m | $1.0b | $2.3b | $1.6b | $2.6b | $4.5b | $4.2b | $7.1b | $7.6b | $5.4b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | $4.2b | $7.1b | $7.6b | $5.4b | |
| Cash, Cash Equivalents, and Short-term Investments | $4.8b | $5.8b | $3.2b | $4.2b | $6.0b | $5.8b | $6.1b | $7.8b | $7.9b | $6.6b | |
| Net change in cash and cash equivalents | — | — | ($663.0m) | $1.0b | $1.8b | ($634.0m) | $392.0m | $2.9b | $472.0m | ($2.2b) | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $66.2m | $69.4m | $81.3m | $152.1m | $88.0m | $100.0m | $103.0m | $106.0m | $143.0m | $246.0m | |
| Income Taxes Paid, Net | $249.9m | $396.7m | $210.4m | $352.5m | $469.0m | $843.0m | $778.0m | $1.9b | $1.7b | $2.2b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.